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Yes, they melted on Bush's lap and he nationalized them like a raving communist. The good news is that in this improving economy they have been brought back to profitability.
Name one bill that the Democratic Congress tried to pass that Bush veto'd that would have stopped the collapse.
But its like austerity in UK talked about. But budget is larger than last year. But Keep the cuts coming as it seems to make people feel good. Besides what budget there has been one for like five years.
Indeed. For some reason the summer months always carry lower deficits than the rest of the year* - what counts is the annual deficit and the total debt. The deficit is still at obscenely high levels, and if that sounds like hyperbole keep in mind that in any fiscal year prior to 2008 these supposedly wonderful deficits of "only $600 billion" (or some such) would have blown away all previous records. The total debt is at extremely high levels and increasing rapidly, and since the deficit is forecast to increase greatly in the years after these "oh-so-good $600 billion deficits", it looks like bankruptcy still lies ahead for the federal government.
*To elaborate, the summer months used to (almost) always post surpluses until the Obama years of record deficits, when they instead posted deficits. Even then the summer month deficits were quite small. It's the big picture you need to look at, not just one month. I bet the OP would accuse the Republicans of cherry-picking if Mitt Romney was President now instead of Obama.
We discussed something similar to this last month:
"The annual deficit has fallen 32% over the first seven months of this fiscal year compared with same period last year, according to Congressional Budget Office figures released Tuesday."
We discussed something similar to this last month:
"The annual deficit has fallen 32% over the first seven months of this fiscal year compared with same period last year, according to Congressional Budget Office figures released Tuesday."
Congress must be doing a good job then.
They have been accused of blocking Obama at every turn.
Congress must be doing a good job then.
They have been accused of blocking Obama at every turn.
Doing nothing tends to cost not a lot of money.
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